Today (7 September 2012) at the Embassy of the Republic of Austria in London, the Treasury and Resources Minister, Senator Philip Ozouf, signed a Tax Information Exchange Agreement (TIEA) between Jersey and the Republic of Austria in the presence of the Ambassador, Emil Brix.
Senator Ozouf said, “This is another important step forward in Jersey’s programme of entering into tax agreements with all of the EU Member States. This reflects our good neighbour policy and our full commitment to compliance with current international standards on transparency and information exchange. With this signing we will have signed a total of 33 tax agreements to the OECD standard of which 15 are with EU Member States, and negotiations with a further ten Member States are well advanced.”
The TIEA will come into force once Jersey and the Republic of Austria have completed their domestic procedures. In the case of Jersey these procedures include the ratification of the agreement by the States of Jersey.
The TIEA is the same as those previously signed with other countries, and provides for the exchange of information on request, which request has to be formulated in writing in accordance with the terms of the agreement.